 "Welspun to invest Rs 15,000-cr in renewable energy: PTI")
Welspun Group is planning to invest Rs 15,000 crore to increase its energy production capacity from renewable sources to 1.75 GW over the next three years, says a PTI report.
The group has two subsidiaries in the energy space - Welspun Renewables Energy and Welspun Energy for the solar and the wind respectively. The private equity of the Asian Development Bank had recently picked around 11% in the latter for $50 million.
“We are planning to invest up to Rs 15,000 crore over the next three years in the renewable energy space to take our total generation to 1.75 GW. While we already have a commissioned capacity of 328 MW, mostly in the solar space, we have close to 725 MW under development,” Welspun Group Chairman B K Goenka told PTI. The company has already invested over Rs 3,000 crore into the power sector so far.
Most of this fresh investment will be in solar space, he said, adding the company will be focusing on Andhra Pradesh, Maharashtra, Punjab and Rajasthan. On the wind side, the company is planning to have 120 MW by the end of this fiscal itself.
FOR COMPLETE REPORT READ: Welspun to invest Rs 15,000-cr in solar, wind energy segments
The group has two subsidiaries in the energy space - Welspun Renewables Energy and Welspun Energy for the solar and the wind respectively. The private equity of the Asian Development Bank had recently picked around 11% in the latter for $50 million.
“We are planning to invest up to Rs 15,000 crore over the next three years in the renewable energy space to take our total generation to 1.75 GW. While we already have a commissioned capacity of 328 MW, mostly in the solar space, we have close to 725 MW under development,” Welspun Group Chairman B K Goenka told PTI. The company has already invested over Rs 3,000 crore into the power sector so far.
Most of this fresh investment will be in solar space, he said, adding the company will be focusing on Andhra Pradesh, Maharashtra, Punjab and Rajasthan. On the wind side, the company is planning to have 120 MW by the end of this fiscal itself.
FOR COMPLETE REPORT READ: Welspun to invest Rs 15,000-cr in solar, wind energy segments